In a market dominated by first and second generation cryptocurrencies, iExec RLC (RLC) seems like one of those coins hidden far from the real digital communities. However, iExec is taking the cloud computing space by storm. It combines the blockchain technology with cloud computing in a decentralized way.
The iExec RLC is quite exciting business model that seeks to create the first market place where you can sell or rent cloud based resources. The platform is b powered by the native token, RLC. Computing power demand is on the rise and costs are also escalating but with the cloud based computing, the user is set to gain immensely.
How is iExec RLC (RLC) Performance in the Market?
iExec RLC is ranked number 121 in terms of market capitalization ($127,572,027). The RLC token is trading at $1.57, with a growth of 5.61% with $14.5 million worth of RLC tokens changing hands in the last 24 hours.
With few blockchain based players in the cloud computing industry, it remains to be seen how the coin performs but predictions are that it will be among the top 100 cryptocurrencies in market cap by close of 2018. This however, will be actualized by implementation of their phased as per their whitepaper.
What does iExecRLC stand for?
iExec RLC is the company that is behind the whole cloud computing concept. Its vision is to see a world that is backed by the next generation IT infrastructure. This is more than simply moving data to an idle computer some place across the globe. It is slightly complex but the beauty of it all is that there are no weak entry points where information or data can be manipulated.
The company iExec RLC creates an enabling environment and support the platform thus creating a virtual provider base. With such arrangement, you can build and run your applications or provide the computing resources required. Whichever way you look at it, you and the platform stands to benefit.
How does iExec Cloud Computing Work in Simple Terms?
With iExec, you can offer your spare computing resources where you let other people use it through the iExec network. It is up to the user to put the resource into use and you get rewarded. On the other hand, if you have limited computing resources, you can rent some from the network and use it to achieve your goals.
The platform is ideal if you are into DApps or other distributed applications. The beauty of a cloud based network is that you are assured of security and no one can access your data or information without your consent. The system rides on the Ethereum ecosystem thus making smart contracts work for you.
The general idea is to bring down the cost of computing resources and making it available to the masses. This is seen as a scalable and secure demand based solution that gives the user unlimited access. To make it more practical and user friendly, the system is backed by the RLC tokens that can be used between users and other player as a digital currency to transact across the platform.
What is iExec RLC (RLC) Token Used for?
The RLC gives you authority to use the networks resources and products. It is the virtual currency that is used to transact throughout the network. To participate, you need to purchase some amount of the RLC tokens.
For the ecosystem investor, the platform is ideal for long term incentives. For you to profit, adoption of the platform by the masses is the key. When you rent out your computing resources you are paid with RLC tokens and that is how the system will become self-sustaining.
According to the iExec RLC (RLC) whitepaper, there are various versions to be released and each will come with additional and unique features to meet the ever growing consumer demands and increase investor profits.
The iExec RLC (RLC) ecosystem is still in better stages and adopting it early means better investment returns in the near future. All you need is start by being a supplier and rent out your unused computing resources, earn and re-invest in the system and grow your online wealth. If you are a developer, rent some cheap computer resource and do what you do best on this revolutionary iExec platform.